ESAB Co. (NYSE:ESAB) Shares Sold by Dynamic Advisor Solutions LLC

Dynamic Advisor Solutions LLC reduced its position in shares of ESAB Co. (NYSE:ESAB) by 3.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,272 shares of the company’s stock after selling 405 shares during the period. Dynamic Advisor Solutions LLC’s holdings in ESAB were worth $970,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brown Advisory Inc. purchased a new position in ESAB in the fourth quarter valued at $1,011,000. Wedge Capital Management L L P NC lifted its holdings in ESAB by 5.2% during the 4th quarter. Wedge Capital Management L L P NC now owns 154,032 shares of the company’s stock worth $13,342,000 after buying an additional 7,682 shares during the last quarter. Trexquant Investment LP lifted its holdings in ESAB by 82.1% during the 4th quarter. Trexquant Investment LP now owns 53,457 shares of the company’s stock worth $4,630,000 after buying an additional 24,099 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of ESAB during the first quarter worth about $3,913,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of ESAB by 6.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 402,903 shares of the company’s stock worth $44,549,000 after purchasing an additional 23,825 shares in the last quarter. 91.13% of the stock is currently owned by hedge funds and other institutional investors.

ESAB Stock Performance

ESAB traded up $0.95 during trading on Tuesday, reaching $94.97. The company’s stock had a trading volume of 1,748 shares, compared to its average volume of 254,127. ESAB Co. has a 52-week low of $61.43 and a 52-week high of $114.77. The company’s fifty day moving average price is $96.00 and its 200-day moving average price is $99.89. The company has a market capitalization of $5.74 billion, a price-to-earnings ratio of 24.61, a price-to-earnings-growth ratio of 1.71 and a beta of 1.42. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.01 and a current ratio of 1.65.

ESAB (NYSE:ESAB) last announced its quarterly earnings data on Friday, August 2nd. The company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.05. The company had revenue of $707.10 million for the quarter, compared to analyst estimates of $686.75 million. ESAB had a return on equity of 17.59% and a net margin of 8.39%. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.21 EPS. On average, equities analysts forecast that ESAB Co. will post 4.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Stifel Nicolaus cut their target price on ESAB from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Oppenheimer assumed coverage on ESAB in a research report on Thursday, June 20th. They issued an “outperform” rating and a $115.00 price target on the stock. Bank of America boosted their price target on ESAB from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Finally, JPMorgan Chase & Co. dropped their price target on ESAB from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.29.

ESAB Company Profile

ESAB Corporation engages in the formulation, development, manufacture, and supply of consumable products and equipment for use in cutting, joining, automated welding, and gas control equipment. Its comprehensive range of welding consumables includes electrodes, cored and solid wires, and fluxes using a range of specialty and other materials; and cutting consumables comprising electrodes, nozzles, shields, and tips.